Business Talent Visa subclass 132

The Business Talent Visa subclass 132 grants permanent residency to visa holders. It is for business people with a long term commitment to develop and grow a business in Australia.

The Business Talent visa subclass 132 has two streams:

1. Significant Business History: for high-calibre business owners who want to have a major role in a existing business in Australia or want to open a business in Australia.

2.Venture Capital Entrepreneur: for individuals who have acquired financial backing from a member of the Australian Venture Capital Association Ltd.

Applying via the Significant Business History Stream

Business operators applying via the Significant Business History stream need to be able to show that they own one of the following:

net business and personal assets of AU$1.5 million minimum plus a business turnover of AU$3 million

or

Minimum 10% ownership of a publicly listed company

or

Minimum 30% ownership of a business with more than AU$400,000 turnover

or

51% ownership of a business with less than $400,000 turnover.

Applying via the Venture Capital Entrepreneur

Visa applicants need to show they have sourced at least A$1,000,000 in funding from an Australian Venture Capital company to start the developing or commercializing a high value business idea.

Steps to applying for the Business Talent subclass 132 visa

Before applying for this visa, you need to be nominated by a state or territory government. This involves submitting an Expression of Interest, selecting the state or territory you want to be based in. The investment, job creation and asset allocation vary for each state and territory vary, so be sure you understand what your chosen state wants to see.

Submit an ‘Expression of Interest’ (EOI), selecting your business destination state of choice.

The state or territory will assess your EOI and nominate you to apply.

On receiving a nomination, submit your visa application within 60 days, along with supporting documents relating to you, your business history and your proposed business venture.

As with most Australian business visas, visa applicants will need to meet Australian health, character and age requirements.

Applicants applying for the Business Talent subclass 132 visa must be under 55 years old.